The mortgage crisis was created, in large part, by a rise in subprime lending

Natalene Ong's picture
Submitted by Natalene Ong
July 17th, 2008
Posted in

Subprime mortgages are high-interest loans, supposedly designed for high-risk borrowers. Only two percent of mortgages issued in 2000 were subprime compared to 28 percent in 2006

Source
Downey, Kristin. Nontraditional Mortgages Don't Wane Under Warnings. Washington Post. [Online] October 24, 2006. [Cited: July 17, 2008.] http://www.washingtonpost.com/wp-dyn/content/article/2006/10/23/AR2006102301162.html.
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